The CEE automotive sector is highly dependent on foreign investments - but there are positive dynamics in domestic demand


The CEE region has become an attractive destination for investments by global car manufacturers. In 2014, 3.6 million vehicles were produced in Eastern Europe, equating to 21% of total EU production. In the CEE countries covered by Coface´s analysis there are 33 car factories, most of which were created by foreign direct investment (FDI) inflows. The analysis shows that despite high dynamics of car sales generated by local clients recently, CEE factories remain highly dependent on foreign demand.

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H1-2015 results: Coface posts a profit of EUR 66 million in spite of an increase in claims in emerging countries


Since the end of last year, at the occasion of our periodic results publications, we have noted weaknesses affecting the macro-economic environment. The first half of this year confirms this trend, and it was marked by an increase in the frequency of claims, in particular in emerging markets. Given this context, we are publishing good quality half-year results. The Group thus confirms the robustness of its business model: product innovation and multi-channel distribution, while controlling risks and costs.

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Company insolvencies in Western Europe: a drop of 7% expected in 2015 but the situation is contrasted


Company insolvencies in Western Europe have experienced two successive storms. The subprime crisis, which made insolvencies jump by an average of +11% in the twelve countries studied, was unsurprisingly followed by further shock waves, with increases of 8% in 2012 and 5% in 2013. Today the skies have begun to clear. The average drop of 9% observed in 2014 will continue with -7% in 2015. While insolvencies continue to increase in Italy and Norway, we are seeing the positive impact of the timid recovery in the eurozone in ten other countries (Germany, Belgium, Denmark, Finland, France, the Netherlands, Portugal, United Kingdom, Spain and Sweden).

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Latin America: Coface Outlook Post-Commodity Bust


Global credit insurer Coface’s latest economic Panorama focuses on Latin America. Growth in the region has been slowing since 2011. This lackluster situation, caused by weak domestic fundamentals, has been exacerbated by cyclical factors since the second half of 2014. In 2015 Coface notes a further deterioration of the downward trend, with regional GDP expected to contract by 0.2%. It will be the first recession since 2009, when activity shrunk by 1.4% due to the subprime crisis.

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